On January 5, 2023, the Consumer Product Safety Commission (CPSC) reported Peloton agreed to pay a $19,065,000 civil penalty as a settlement regarding its Tread+ treadmill, approximately a year and a half after the CPSC and...more
New York’s Department of Financial Services (“DFS”) recently announced a $100 million settlement with Coinbase, Inc., one of the world’s largest cryptocurrency exchanges, for Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”)...more
1/10/2023
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Coinbase ,
Compliance ,
Crypto Exchanges ,
Cryptocurrency ,
Cybersecurity ,
Data Breach ,
Digital Assets ,
Due Diligence ,
Financial Institutions ,
New York ,
NYDFS ,
Reporting Requirements ,
Settlement ,
Suspicious Activity Reports (SARs) ,
Transaction Monitoring
This summer was a busy one for cryptocurrency regulators, with aggressive actions potentially signaling an increase in consumer protection compliance activity.
In August alone, the New York Department of Financial Services...more
10/4/2022
/ Coinbase ,
Compliance ,
Criminal Prosecution ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Institutions ,
Fines ,
Fraud ,
Howey ,
Money Laundering ,
Non-Fungible Tokens (NFTs) ,
NYDFS ,
Office of Foreign Assets Control (OFAC) ,
Penalties ,
Ponzi Scheme ,
Popular ,
Pyramid Schemes ,
Securities and Exchange Commission (SEC) ,
Settlement